Scopus Asset Management L.P. increased its position in shares of Celanese Corporation (NYSE:CE) by 153.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,800 shares of the basic materials company’s stock after buying an additional 130,800 shares during the period. Scopus Asset Management L.P. owned approximately 0.15% of Celanese Corporation worth $19,390,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Tyers Asset Management LLC bought a new stake in Celanese Corporation during the fourth quarter worth about $105,000. Zurich Insurance Group Ltd FI bought a new stake in Celanese Corporation during the fourth quarter worth about $119,000. Investment Counselors of Maryland LLC bought a new stake in Celanese Corporation during the first quarter worth about $125,000. Bessemer Group Inc. raised its stake in Celanese Corporation by 26.9% in the fourth quarter. Bessemer Group Inc. now owns 1,694 shares of the basic materials company’s stock worth $134,000 after buying an additional 359 shares during the last quarter. Finally, Elkfork Partners LLC bought a new stake in Celanese Corporation during the fourth quarter worth about $144,000. 98.37% of the stock is currently owned by hedge funds and other institutional investors.
Celanese Corporation (NYSE:CE) traded up 0.48% during mid-day trading on Friday, hitting $90.52. The stock had a trading volume of 813,192 shares. The stock has a market cap of $12.62 billion, a PE ratio of 15.77 and a beta of 1.17. Celanese Corporation has a one year low of $60.59 and a one year high of $93.06. The firm’s 50-day moving average is $87.12 and its 200 day moving average is $86.48.
Celanese Corporation (NYSE:CE) last issued its earnings results on Monday, April 17th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.09. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. Celanese Corporation had a net margin of 15.14% and a return on equity of 30.92%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. Equities research analysts expect that Celanese Corporation will post $7.28 EPS for the current year.
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A number of equities research analysts recently issued reports on CE shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $104.00 target price (up previously from $100.00) on shares of Celanese Corporation in a research note on Saturday, April 22nd. Deutsche Bank AG reduced their target price on Celanese Corporation from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $100.00 target price on shares of Celanese Corporation in a research note on Tuesday, March 28th. Citigroup Inc. upped their target price on Celanese Corporation from $100.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, Goldman Sachs Group, Inc. (The) upped their target price on Celanese Corporation from $103.00 to $110.00 and gave the company a “conviction-buy” rating in a research note on Tuesday, April 4th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $91.99.
About Celanese Corporation
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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